how much is taken out in terms of taxes...base on salary?

Question

I have a 60,000k a year job and my brother is working at a warehouse making 300 a month...why in the world do I get more money taken out of me in taxes than my brother makes as a salary?

Answer 1

youmakemo man

Answer 2

Maybe because you make almost 17 times as much as he does?

You'll both pay 7.65% of your income for social security and medicare, so just for that you'll be paying more than he's making. He isn't likely to have any federal income tax liability - you will, although the amount depends on a number of things you don't say in your question, like your family situation.

Answer 3

You two have set different amounts of withholding.

Keep in mind, about 20% of what you make is NOT income tax - it's social security and medicare - and that will ALWAYS come off the top.

Then, you might have money taken out for 401K, or health insurance - maybe he doesn't? And if you have your withholding set at 0, and he's got 4, or whatever, that's for your income tax. Come refund time, do you get a big fat refund, and he doesn't? That big fat refund you get is an interest free loan to Uncle Sam. You might want to adjust that.

Answer 4

Because you make a lot more than he does. The more you earn, the more you pay.

Answer 5

Simple. Because you make more. DUH!